Bharti Airtel’s Q1 FY2022 consolidated revenues up 21.2% at Rs 26,854 cr

Bharti Airtel’s Q1 FY2022 consolidated revenues grew 21.2% YoY at Rs 26,854 crore on a comparable basis and 15.3% YoY on a reported basis. Consolidated mobile data traffic at 10,439 PBs in the quarter with a healthy YoY growth of 48.7%.

India revenues for the first quarter ended June 31, 2021 stood at Rs 18,828 crore, an increase of 19.2% YoY on a comparable basis and 11.1% YoY on a reported basis. Mobile revenues grew by 21.9% YoY on comparable basis on account of the improved realisations as well as strong 4G customer addition. ARPU for the quarter came in at Rs 146 as compared to Rs 138 in Q1 FY2021, an outcome of the company’s focus on acquiring quality customers as well as secular upgrading of customers to data.

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Consolidated EBITDA witnessed an increase of 30.3% YoY to Rs 13,189 crore in Q1 FY2022. EBITDA expansion was broad based across the portfolio and the portfolio remains very well balanced with India non-mobile and Africa business contributing 17.6% and 29.5%, respectively, and India mobile contributing 53.0%. This led to an improvement in EBITDA margin from 43.4% in Q1 FY2021 to 49.1% in Q1 FY2022. Incremental EBITDA margins across businesses remained healthy, with India mobile services EBITDA improving from 40.6% in Q1’21 to 49.2% in Q1 FY2022.

Consolidated EBIT increased by 84.5% YoY to Rs 5,437 crore. The Consolidated Net Income before exceptional items for the quarter stands at Rs 266 crore. The Consolidated Net income after exceptional items for the quarter stands at Rs 284 crore.

Digital TV witnessed a growth of 8.7% YoY on the back of strong customer additions of 282K during the quarter. The company continue to make progress through innovative propositions and differential experience to accelerate the business growth.

The Digital services offerings of Airtel continue to see growth. MAUs reached to over 187 million across its key digital assets – Thanks, Wynk, Xstream. There are over 1.2 million retailers transacting and making payments every day on Mitra App. The company continues to witness accelerated adoption and scaling up of its cloud communication and adtech platforms with new customer onboarding.

The company continues to garner a strong share of the 4G net adds in the market. 4G data customers2 increased by 33.4% YoY to 184.4 million compared to the previous year. Over the last 4 quarters, the company has added ~ 46 million 4G customers to its network. ARPU continues to be the best in industry - average data usage per data customer at 18.5 GBs/month; while voice usage was at 1,044 mins/ customer/ month.

Airtel Business continues to accelerate its momentum with 8.2% YoY growth, driven by demand for connectivity and solutions across global business and domestic businesses. The company’s enterprise portfolio consists of connectivity IoT , mobile , IQ (customer relationship management), Secure, Cloud, conferencing and data center solutions. The company is now going deeper with adjacencies and a full gamut of services opening up a wide addressable market with adjacencies expanding and growing much faster than the core connectivity.

In a statement, Gopal Vittal, MD and CEO, India & South Asia, Bharti Airtel, said, “India is now recovering from the devastating second wave of COVID-19. Our consolidated revenues at Rs 26,854 crore grew by Rs 1,106 crore over the last quarter, representing a sequential growth of 4.3 per cent, while EBITDA margins improved from 48.9% to 49.1%. While our wireless revenue was impacted by the COVID-19 lockdown induced slowdown in terms of device shipments and a financial squeeze at the lower end of the market, our overall performance reflected the resilience and strength of our portfolio. We added ~ 5.1 million 4G customers during the quarter and our enterprise business in India continued to deliver strongly. Our Homes business grew by just about 13 per cent over last year and added 285K customers in the quarter, the highest ever. We continue to invest in the best of emerging technologies, including networks and digital capabilities.”

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